Money Managing Tips for International Students

1. Money Managing Tips for International Students Office of Central Financial Aid

2. Money Savings Tips for International Students • Agenda • Budget • Banking • Specific Ways to Save • Other Ideas • “Live like a __________ now, you’ll live like a student after you graduate.”

3. Budget / Spending Plan • Get one and stick to it! • http://www.accessgroup.org/calculators • Use cash instead of debit card, less likely to spend. • Try keeping a spending journal for one month. • Envelope System • Put monthly amount in an envelope – when gone – no more – or move between envelopes.

4. Budget • If you’re here for a few years, utility companies offer payment plans that level off payments to same each month • Two $3.50 Starbucks Coffees = $364 a year • Useful Websites: http://www.regent.edu/admin/finaid/undergrad/literacy.cfm

5. Banking • Make sure you find a student-friendly bank • No fees, no minimum balances, free checking • ATM Fees – avoid them! • High-interest Online Savings Accounts (ING and others offer www.bankrate.com)

6. Credit Cards • Use only if necessary • Always pay off – avoid extra interest payments • Regent does not take Visa for online payments • Look for special cards for students or ones that give benefits you want (frequent flyer miles, cash back, etc.) – careful of hidden fees

7. Identity Theft • Safeguard your Social Security Number, birthday, name • Many banks offer debit/credit cards with your photo on it • http://www.annualcreditreport.com • http://www.ftc.gov/bcp/edu/microsites/idtheft/

8. Ways to Save

9. Sales • Always happening • Right after a holiday is a good way to save on seasonal items • Certain holidays/seasons have traditional sales • January = White Goods (towels, linens) • Memorial Day = Guitar Center for musical instruments (VaBeach Blvd) • Sunday Newspaper has inserts • Grocery Stores – look at front of store for a flyer (Wednesday newspaper has a food section) • Register online and you can receive grocery stores weekly fliers • Drug Stores – look at front of store for a flyer

10. Thrift Stores • Items are used • Also known as: • Second-Hand Store, Charity Shop, etc. • Perfect for: • Baby Clothes • Used Furniture • Lightly used clothes • Other Household Goods

11. Thrift Stores • Local stores: • CHKD Thrift Store (Corner of Centerville/Kempsville) • Virginia Beach Blvd near corner of Newtown Road • Salvation Army • D.A.V. • Goodwill • CHKD Thrift Store on Indian River (near the corner of Indian River and Military Hwy.) • Union Mission Thrift Store at 4016 Indian River Rd.  (go west on Indian River)

12. Food Coupons • Easy way to save money • Many stores offer double/triple coupons • Coupon for 50 cents = $1.00 • Harris Teeter, Kroger, etc. • Often only on higher priced name brand products, compare price with generic, read the fine print • Store Cards; offer special discounts to those who have a card (go by names like MVP Card, Super Saver Card, etc.)

13. Generic Brands • Most major groceries offer a generic alternative to most food products • Each store has different “house” brand name • Wal-mart = Equate (toiletries, GW for food) • Harris Teeter Brand • Medicines, Prescription Drugs

14. Store End Caps • Location where stores put: • Liquidation items • Sale items • Slightly damaged goods

15. Garage / Yard Sales • Very popular on weekends • People moving, cleaning out their homes, etc. • Newspaper lists location in classified section • Don’t be afraid to negotiate • http://classified.hamptonroads.com/searchresults.cfm?category=4e

16. nuride • www.nuride.com • Ride Sharing Community • Earn Rewards from Local/National Companies • Gift Cards • Retail Discounts • Tickets • Earn points for trips • Must sign up using your Regent e-mail account

17. nuride • http://www.nuride.com/nuride/public/how_it_works.jsp

18. Online Shopping • Amazon.com • Overstock.com • Shipping Costs! • Make sure you can’t get it cheaper by going to the store.

19. Craigslist • Free online classified ads • http://norfolk.craigslist.org/ • Anything and everything • There is a list for almost every major city in the world

20. Other Coupons • Weekly flyers in the mail for goods and services from local companies • Entertainment Book • $20 – all sorts of specials, discounts • Restaurants, events, culture, sports, etc.

21. Student Discounts • Movies, Theme Parks, software, computers • Regent Bookstore offers discounted movie tickets • Travel • Some retail stores: J. Crew, Apple • Regent Human Resources Office has a list of possible discounts: http://www.regent.edu/admin/hr/discounts.cfm Might change – best to check first. Some are only for staff – but some are also for students

22. Local Events • Lots of free events in the area; summer festivals, concerts, etc. • Hamptonroads.com • YMCA offers financial assistance, will need to provide proof of income (or lack thereof) • Matinee Movies (early in the day) • Museums offer student discounts, Chrysler Art Museum free on Wednesdays

23. Dining Out • Buy one, get one free coupons found in weekly mailings, online • Skip the soda – water. • Tipping:15-20% off the pre-tax amount • Not included in check unless with a large group • Learn to cook: spending $20/week dining out is over $1,000 a year

24. Other Ideas? • Anything you do to save money?